Here is an excerpt from Cliffs, which also applies to NOT imo, especially the last sentence. Sorry about the format.

Cheers

mgb

Cliffs Natural Resources (CLF : NYSE : US$73.12), Net Change: -2.06, % Change: -2.74%, Volume: 6,302,922

Cliffs Natural Resources reduced its iron ore sales forecast and cut its outlook for Asia Pacific, sending shares lower
on Friday. Management forecast 2011 sales volume of 7.4 million tonnes in its Eastern Canadian iron ore segment, down from
its most recent forecast of 8.0 million tonnes. Revenue per tonne is expected to be slightly below its previous outlook of $160-
165 per tonne and total cash cost will likely come in at the high end of its $90-95 forecast. In its Asia Pacific iron ore unit, it cut
its sales volume estimates from 8.8 million tonnes to 8.6 million due to the timing of two shipments but did say that its U.S. iron
ore business would be in line with expectations. North American coal is expected to see higher sales volume and per-tonne
revenue; however, it is a much smaller portion of the company’s business than the iron ore. Management said, “The company
expects meaningful growth in emerging economies, specifically China, where crude steel production and iron ore imports are
anticipated to reach record annual levels.”